A significant Covid-19 related business interruption claim has been decided in favour of insurers. In Star Entertainment Group Limited v Chubb Insurance Australia Ltd [2021] FCA 907, the Federal Court dismissed Star Entertainment Group’s claim for business interruption losses under an industrial special risks (ISR) policy. It appears Star has appealed the decision.

On 30 June 2021, ASIC released its consultation paper 343: Crypto-assets as underlying assets for ETPs and other investment products (CP343). The consultation has a broad remit and potentially significant consequences for trading in and investment exposure to crypto-assets.

ASIC is seeking feedback on proposals about exchange-traded products (ETPs) and other investment products that provide

Introduction

On 10 March 2020, following extensive consultation with industry, the Australian Securities and Investments Commission (ASIC) released its new regulatory framework for foreign financial services providers (FFSPs). These new rules are critically important for foreign firms (including asset managers and funds, brokers, foreign banks and other offshore institutions) undertaking wholesale

On 10 March 2020, ASIC published its media release announcing the new regulatory framework for foreign financial services providers (FFSPs) providing financial services to wholesale clients in Australia.

Existing licensing relief has been extended as follows:

  • ASIC has provided a 2 year transition period until 31 March 2022 for FFSPs relying on the

Introduction

As noted in our earlier update, ASIC has released its updated proposals for the licensing relief available to foreign financial services providers (FFSPs) servicing wholesale clients in Australia, with the release of Consultation Paper 315.

In summary, ASIC has proposed to:

  • extend the expiry of the sufficient equivalence relief and limited

Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulator, AUSTRAC, has released its guidance with respect to new laws that require digital currency exchange (DCE) providers to register and comply with AML/CTF obligations.

AUSTRAC takes a broad approach in interpreting what is covered within the legal definition of a DCE. Essentially, any

It is an exciting time for Australian equity market participants with a new crowd-sourced funding (CSF) regime due to commence on Friday 29 September 2017.  CSF, in essence, involves raising funds, usually through an online intermediary, from a large number of people who each make relatively small financial contributions. Australia’s new regime, introduced

Norton Rose Fulbright is pleased to offer you a rare opportunity to hear from some of the leading voices in risk and disruption.

We will be hosting our annual Financial Institutions Symposium in our Sydney office on Thursday 27 October 2016. Discussion will focus on current ‘Risks & Disruptors’ in the global